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Graphene Manufacturing Group Ltd. (TSX-V: GMG)
- Type of financing: Non-brokered
- Gross proceeds: $11.55 million
- Number of units: 5.64 million
- Price per unit: $2.05
- Closing date: 09/02/21
- Today's closing price (Jan. 11): $5.37
- Share appreciation: 162%
- Warrants: Full
- Strike Price: $2.60
- Expiry date: 09/02/2024
- Net ROI w/ warrants ($100k investment): $229,512
An overnight marketed offering closed by Australia-based Graphene Manufacturing Group Ltd. (TSX-V: GMG) back in September went free-trading this week, chalking up strong gains for investors in a relatively short time frame.
The company offered 5.64 million units at $2.05 each, with each unit consisting of a common share and a half-warrant. Each full warrant is exercisable at $2.60 until Sept. 2, 2024.
GMG is green-tech company that has developed a proprietary process to manufacture graphene powder for use in battery materials and other applications. Shares of the company began a steep rise in October after it announced the signing of a letter of intent with Bosch to develop a new plant for its graphene manufacturing process. Right after, it announced that it had begun building a pilot plant for graphene aluminum-ion batteries. Since then, nothing has moved the stock too aggressively, though it is certainly supported by a strong market for electric energy technologies and battery metals.
Since those two announcements, shares of the company have jumped $3.02 to $5.32 per share.
